This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

Younger Americans are approaching their money with a blend of ambition and realism.

As the classic markers of financial success feel less attainable, many younger Americans are emphasizing short-term fulfillment, flexibility, and self-reliance, according to a new SoFi survey of over 4,000 U.S. adults. They're not giving up on having a house or retiring comfortably, but they're not putting their life on hold to make those things happen, either.

In fact, roughly 60% of Gen Z and millennials (under ~45) see the “ability to enjoy life” as a mark of financial progress, but just a third say the same for owning a home.

“After watching the pandemic upend life overnight, and now seeing the workforce completely reimagined by AI, they know it's just as important to prioritize life now, not just build for what's next,” the researchers wrote. This so-called “lifemaxxing” prioritizes time alongside money.

Even as younger people redefine what progress looks like, money is still top of mind.

Gen Z (under ~30) is the most investment-minded and entrepreneurial of the generations, with more believing they can start their own business than achieve a stable career (77% versus 67%).

Compared with older Americans, Gen Z and millennials also work harder to make their money stretch. They're more apt to share subscription access with friends or family, open a bank account to take advantage of a promotion, or look for free stuff on Buy Nothing groups.

Here are a few other interesting findings from the survey:

•   Just 56% of the two generations believe they'll have a better quality of life than their parents.

•   69% of Gen Z and 63% of millennials feel pressure to look more successful than they actually are. For many in Gen Z, social media plays a big part in that.

•   Compared with older generations, younger Americans are six times more likely to use social media and three times more likely to leverage AI for financial advice.

•   Lifemaxxing isn't unique to younger generations: 72% of all survey respondents said they're willing to make slower progress on their goals in order to show up for family or go on a vacation.

So what?

Americans are making the most of the present as confidence in the future wanes.

If that's your strategy too, here are a few things to keep in mind:

Living today shouldn't sacrifice tomorrow: Maximizing deeper connections and meaningful experiences works best when you have clear financial boundaries. Not saving any money — or accruing high-interest debt — will only make it harder to continue to enjoy your life.

Tune out the digital noise: Spending to keep up appearances can damage long-term progress. Ground your financial choices in your actual household budget rather than any online audience.

Verify the source before acting on advice: Free advice from AI tools and social media creators can spark good ideas, but unverified financial claims carry risk. The Securities and Exchange Commission (SEC) cautions against trusting unvetted sources or relying solely on AI models when making investment decisions.

Keep your eyes on the prize: Every bit helps when you're cutting costs. But don't let that distract you from the most important components of building wealth: saving and investing your money. It's why our philosophy at SoFi is to spend less than you make and invest the rest.

Related Reading

FinTok: Evaluating TikTok Financial Advice (SoFi)

Entrepreneurship Is Booming in the US. Gen Zers Are Leading the Way (CBS News)

Gen Z Can't Afford to Buy a House, So They're Putting Their Money in the Stock Market Instead (Entrepreneur via Yahoo Finance)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM20260923SW